Fusion Fuel Green PLC Announces MoU with ZOILO RIOS to Develop Green Hydrogen Production for First Hydrogen Refueling Station...
March 15 2021 - 9:09AM
Fusion Fuel Green PLC (NASDAQ: HTOO), a green hydrogen technology
company, is pleased to announce that it has signed an MoU with
Grupo Zoilo Ríos to jointly develop the first green hydrogen
production capacity next to a service station in Spain. This
partnership will also represent the first Hydrogen Purchase
Agreement (HPA) signed with a gas station operator in Spain. The
volume of green hydrogen provided by the HPA will escalate over
time to up 120 tons per annum as the market for hydrogen-fueled
mobility continues to develop.
Fusion Fuel will use its market-leading HEVO-SOLAR solution to
supply green hydrogen to the El Cisne service station in Zaragoza,
which is located next to the A2 Highway, one of Spain’s main trunk
roads connecting Madrid and Barcelona. Fusion Fuel’s technology
produces emissions-free green hydrogen using only solar radiation
and is designed to be completely modular, making it the ideal
solution to accompany the dramatic growth in the Spanish FCEV
market expected in the coming years.
Grupo Zoilo Ríos, a member of CEEES, is one of the leading
groups of gas stations in the Aragon Region of Spain, with 19
service stations in operation, and is committed to leading the
transition to sustainable mobility in the region. Zoilo Ríos and
Fusion Fuel will develop the first green hydrogen plant co-located
with existing conventional refueling infrastructure and will expand
the green hydrogen production footprint to the other Zoilo Ríos
service stations as the market develops. Grupo Zoilo Ríos is
already developing long term green hydrogen supply contracts with
logistics and public transport operators in the area to secure
demand.
Spain has announced a long-term strategic commitment to develop
an extensive hydrogen refueling network as part of its ambitious
National Hydrogen Strategy, “Hoja de Ruta del Hidrógeno”. The
production of clean hydrogen at scale is essential to achieving the
country’s decarbonization targets. Fusion Fuel, through its Spanish
JV entity, will look to play a leading role in supplying the
technology to establish a robust green hydrogen refueling
infrastructure, and in some cases will be the direct provider of
the green hydrogen to refueling station owners.
“Delivering green hydrogen and reducing the carbon intensity of
the transportation sector is something we see not only as a key
decarbonization objective, but one that can also deliver attractive
long-term opportunities,” explained Joao Wahnon, Head of Business
Development at Fusion Fuel. “Thanks to the excellent solar resource
in Spain, our HEVO-SOLAR solution will be able to produce green
hydrogen extremely competitively, making it a great market for our
technology. We are excited to join forces with Zoilo Ríos Group and
CEEES to develop our first project in this sector and to be part of
the green hydrogen production and refueling infrastructure laid out
in Spain’s National Hydrogen Strategy.”
Zoilo Ríos, President of Grupo Zoilo Ríos, added: “The
inauguration of our first hydrogen refueling point later this year
will demonstrate our intention to pioneer the future of sustainable
mobility in the Aragon region. Our goal is to develop low-cost
green hydrogen production to create long-term stable demand from
new consumers in Spain. Our partnership with Fusion Fuel further
reinforces this commitment and we hope it will encourage logistics
companies in the Plataforma Logistica de Zaragoza (PLAZA) as well
as public transportation operators to commit to decarbonization by
switching to new clean energies such as green
hydrogen.”
About Fusion Fuel Green plc.
Fusion Fuel Green plc. is an emerging leader in the green
hydrogen space, committed to accelerating the energy transition and
decarbonizing the global energy system by making zero-emissions
green hydrogen commercially viable and accessible. Fusion Fuel has
created a revolutionary proprietary electrolyzer solution that
allows it to produce hydrogen at highly competitive costs using
renewable energy, resulting in zero-carbon emissions. Fusion Fuel’s
business lines includes the sale of electrolyzer technology to
customers interested in building their own green hydrogen capacity,
the development of hydrogen plants to be owned and operated by
Fusion Fuel and active management of the portfolio of such hydrogen
plants as assets, and the sale of green hydrogen as a commodity to
end-users through long-term hydrogen purchase agreements.
For more information, please
visit https://www.fusion-fuel.eu
About Grupo Zoilo Rios
Grupo Zoilo Rios is one of the leading Service Stations
Management companies with 19 Gas Stations located in strategic
locations in the Aragon Region (Spain). The progressive
incorporation of new facilities, together with innovation in both
products and services; as well as the diversification in business
and complementary activities has allowed Zoilo Ríos, S.A. to
achieve sustainable growth. With more than 95 years of experience,
Zoilo Ríos, S.A. has achieved a specialization in the Service
Stations Sector and now also acts as an energy service provider to
be participants in the energy transition of the Service Stations
sector, helping to mitigate climate change.
Zoilo Rios has at its core the commitments to; be an example of
a sustainable company, from a labor, environmental, economic and
social aspects, be a company in the Service Stations sector that
supplies clean energy and solutions to sustainable mobility and to
collaborate with society, so that it is inclusive, egalitarian,
fair and respectful with the environment.
For more information, please visit https://zoilorios.com
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The words “believe,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “could,” “target,”
“potential,” “is likely,” “will,” “expect” and similar expressions,
as they relate to us, are intended to identify forward-looking
statements. The Company has based these forward-looking statements
largely on our current expectations and projections about future
events and financial trends that we believe may affect our
financial condition, results of operations, business strategy and
financial needs. Some or all of the results anticipated by these
forward-looking statements may not be achieved. Further information
on the Company’s risk factors is contained in our filings with the
SEC. Any forward-looking statement made by us herein speaks only as
of the date on which it is made. Factors or events that could cause
our actual results to differ may emerge from time to time, and it
is not possible for us to predict all of them. The Company
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
Investor Relations Contactir@fusion-fuel.eu
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